On April 8, 2014,
Pitney Bowes Inc.
) declared at the National Association of Software and Services
Companies (NASSCOM) conference that its Accelerator program will
be incubating several software start-up companies in India. The
news raised investors' confidence and its share increased by more
than 1% on April 9.
The initiative is a part of NASSCOM's 10,000 Start-ups program
started in March 2013 to promote innovation and entrepreneurship
in India. Pitney Bowes will participate in the program May 2014
onwards. The company will be providing assistance to start-ups
for enhancing the software development in diverse domains
including mobile applications, data analytics, location-based
services and e-commerce.
The start-ups that will be selected for the program will be
eligible to access critical resources from Pitney Bowes,
including its software, application programming interfaces (APIs)
and the vital data. Apart from these, the participants will also
receive training along with technical and business guidance. The
mentors will be technical experts from the company and some
external experts in the software domain. Moreover, this program
will provide a platform to participants to connect with potential
The initiative will broaden the company's presence in India,
while strengthening its business in the long run.
On Apr 9, the company also revealed the success of its
IntelliJet 20 Printing and the Print+ Messenger systems that
enhanced New Zealand Post's mails and communications with its
At present, Pitney Bowes has a Zack Rank #3 (Hold). Some other
stocks worth considering in the sector include
Ricoh Company, Ltd.
Adobe Systems Inc.
). All three stocks carry a Zacks Rank #2 (Buy).
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